VA Loan Program and VA Home Loan - 5 Questions To Ask Your Lender

11/16/2017

The VA loan program is a great option for many U.S. veterans looking to purchase a home. A VA home loan not only doesn't require mortgage insurance, but they also allow for 100% financing. If you think that this option could help you financially, it is important to first talk to a qualified lender. To get started, ask your lender the following questions to see how you should proceed.

Are you qualified to help me obtain a VA loan? For anyone looking to obtain a VA home loan, it's important to work with a knowledgeable lender. Before you begin the actual process of getting your loan, make sure that the lender has experience working with veterans and addressing their unique needs.

What special regulations are in place in my area? State and local regulations will dictate certain aspects of your loan, so make sure you know what these are. Knowing your region's loan limit is especially important since this will determine which homes you can reasonably look at.

What interest rate can I expect? Keeping interest rates in mind up front will save you from stressing out in the future about your finances. You can also work with an accountant to manage your loan budgets if you are worried about choosing the wrong one. You want the VA loan program to help your finances rather than harm them.

Can you help me find the best real estate agent? Once you move on to select a real estate agent to help you find the best home, it's wise to choose one that has experience working with veterans. You likely want a realtor who understands the VA loan program. If not, they might not take your financial situation into account.

How can I get more information? Keep communication lines open with your lender. If any questions come up in the future, you want to be able to address them. They may also point you to other sources for assistance.

By choosing to take part in the VA loan program,
you are helping yourself and your family realize the dream of home ownership. By keeping the details in mind and finding a lender you trust, you can make this process go as smoothly as possible. Just remember to ask any question that comes up. It will only help prepare you more.

Get Started Today With Your VA Loan Request!

If you would like to speak with a loan professional about the prequalification process, please call our toll-free number at 866-704-2826 or click on the button below and complete our quick-and-easy online form and a member of our staff will contact you right away to discuss your options.

Texas Vet Loan Rates

*APR calculated on a base loan amount of $300,000 and no VA Funding Fee.

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Consumers who would like to file a complaint against about a mortgage banker residential mortgage loan originator, may complete a complaint form and send to the Texas Department of Savings and Mortgage Lending, 2601 North Lamar, Suite 201, Austin, TX 78705. Instructions and complaint forms can be found on the Department’s website at www.sml.texas.gov. The toll-free consumer hotline number is 1-877-276-5550. This department offers a recovery fund to reimburse certain actual out of pocket damages to borrowers as a result of acts by Licensed Mortgage Banker Residential Mortgage Loan Officers. Borrowers must submit a written application for reimbursement from the recovery fund which is filed with and investigated by the department before payment of any claim. For further information about the recovery fund, visit the Department’s website at www.sml.texas.gov.